21/01/2014
InverCaixa Gestión and Bankinter launch two new bond funds
P { margin-bottom: 0.08in; } InverCaixa Gestión and Bankinter Gestión have registered the first funds of the year 2014 with the Spanish regulator, Funds People reports. According to the website, they are non-guaranteed horizon bond funds maturing in 2019. In detail, the new fund FonCaixa Valor Bolsa Euro 2 from InverCaixa Gestión states that its returns at maturity will depend on the evolution of the stock market index Eurostoxx 50 (price return). At its maturity, scheduled for the end of July 2019, the non-guaranteed performance objective will be calculated on the basis of the net asset value as of 20 March 2019, at which time 50% of the revaluation of the European index between the two dates will be applied. The vehicle will invest in public debt issued by the Spanish government, with a rating at least equivalent to BBB-. The minimal investment is set at EUR6,000 with management fees of 1.25%. The new fund from Bankinter Gestión, entitled Bankinter Renta Fija Roble 2019, stands out in the sense that its non-guaranteed performance objective is not related to a stock market index. It aims for non-guaranteed returns of 1.87%, for all invesments held until the maturity of the fund in February 2019. If the portfolio dos not reach this objective, participants will receive a separation fee within a maximal period of 10 days from the launch of the product, on 20 February 2014. The fund will invest 95% in debt issued by Spain and its autonomous regions, and up to 5% in cash. However, it may invest up to 100% in public or private bonds from OECD issuers with a minimal credit rating equivalent to a rating of BB-.
